This should be one of the most affordable rates that you can get in the country.
If you have bad credit, you will pay between 6 and 12 percent interest.
Where it does make a difference is if you decide to sell off the car and settle the loan before the tenure ends.
Car buyers with extra disposable income may wish to consider a flexible type of variable rate car loan that allows them to reduce the interest by depositing extra money into a linked account, much like how a flexi home loan works.
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Here are 3 loan myths you need to bust if you want to get your loan approved instead.